ORLEN secures PLN 3.5 billion from the recovery plan for offshore wind development
PKN ORLEN continues to advance its investments in offshore wind energy, strengthening Poland’s and the Baltic region’s energy security. The company has secured PLN 3.5 billion from the National Recovery Plan (KPO) to support two strategic projects – Baltic Power and Baltic East – with financing provided by the Bank Gospodarstwa Krajowego (BGK).
In brief
The ORLEN Group has secured PLN 3.5 billion from the National Recovery Plan for the Baltic Power and Baltic East offshore wind farms, with financing provided by Bank Gospodarstwa Krajowego. Around PLN 900 million will go to Baltic Power, a project run with Canada's Northland Power, and the rest to preparations for Baltic East. The first megawatt-hours from the Baltic Power farm are expected to flow into the national grid next year, covering up to 3 percent of national demand. ORLEN Management Board President Ireneusz Fąfara announced further development of projects with a total capacity of around 5.5 GW.
- The Baltic Sea is becoming the energy hub of the region. Here, we are developing our strategic renewable energy investments, constructing the Baltic Power offshore wind farm and preparing for the Baltic East project. These initiatives will not only enhance Poland’s energy security but are already driving regional economic growth and creating new jobs, said Ireneusz Fąfara, CEO of ORLEN.
Approximately PLN 900 million of the funds will be allocated to Baltic Power, developed in partnership with Canada’s Northland Power, while the remaining resources will support Baltic East, one of the most advanced projects in Poland’s second phase of offshore wind expansion.
- Offshore wind farms require a broad spectrum of advanced expertise – from energy technology to marine engineering and logistics. Their economic impact extends beyond the energy sector, stimulating the development of domestic industries. This is a clear example of the effective use of National Recovery Plan funds, noted Prof. Marta Postuła, First Vice-President of BGK.
KPO funds will be used to finance key marine infrastructure elements, including the production, delivery, and installation of wind turbines, as well as foundations and offshore assembly.
Baltic Power is currently Poland’s most advanced offshore wind project, with the first megawatt-hours expected to enter the national grid next year, covering up to 3% of the country’s electricity demand. In the coming years, ORLEN Group plans further development in partnerships, targeting additional projects with a total capacity of approximately 5.5 GW.
Offshore wind energy remains a strategic pillar of ORLEN2030+, supporting a sustainable and equitable energy transition for Poland and the Baltic region.
Source: Gazeta Morska · Compiled by: Kamil Kusier
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